[DeepHollow]

I've heard that Congress has come to a tentative agreement with the White House over the country's debt ceiling. I have heard there is going to be no tax raises, and no new votes about the debt ceiling until after the 2012 election. It's amazing to me that this has gone on as long as it has.

[JordansMom]

I do hope they haven't cut Medicare. My parents are going to be in trouble if they do. That's the only health insurance they have and it does cost them quite a bit between the payment for it a month and the deductible.

[alygirl]

An agreement has been reached, but it hasn't passed Congress yet and it may not. We will probably still lose our AAA credit rating because it doesn't do nearly enough to reign in spending. Basically they are still just kicking the can down the road...again.

[Friendlygal]

Well both houses of Congress passed it and I imagine Obama has signed it by now. Alygirl is right though this bill does absolutely nothing to solve our financial crisis. Cutting several hundred billion from the budget doesn't do much good when you are already running a deficit in the TRILLIONS. Also, they still haven't passed a budget so all the fighting will continue. All this deal did was allow us to borrow more money that we will never be able to repay.

[craftykris]

It is certainly a scary situation we are facing right now being Americans. I don't know if the President signed it today but I know the other 2 have passed it.

[Izzie]

The President signed it yesterday though I agree with some others here that it's not going to do much good. They STILL don't have a budget in place for next year so all of this will just start right back over. China has their own credit rating agency and has now downgraded the US twice. Scary considering they own the bulk of our debt.